Latin America and the Caribbean: Pimenta Pepper Market 2024

Pimenta Pepper Market Size in Latin America and the Caribbean

The Latin American pimenta pepper market fell slightly to $X in 2022, therefore, remained relatively stable against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Pimenta Pepper Production in Latin America and the Caribbean

In value terms, pimenta pepper production dropped notably to $X in 2022 estimated in export price. In general, production, however, showed a tangible expansion. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

The countries with the highest volumes of production in 2022 were Mexico (X tons), Peru (X tons) and Jamaica (X tons), together comprising X% of total production. Colombia, Honduras and Argentina lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the key producing countries, was attained by Honduras (with a CAGR of X%), while production for the other leaders experienced more modest paces of growth.

In 2022, the average pimenta pepper yield in Latin America and the Caribbean reduced slightly to X tons per ha, shrinking by X% compared with the previous year. In general, the yield showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the yield increased by X%. The level of yield peaked at X tons per ha in 2020; however, from 2021 to 2022, the yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the pimenta pepper harvested area in Latin America and the Caribbean stood at X ha, standing approx. at the previous year. Over the period under review, the harvested area, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the harvested area increased by X%. Over the period under review, the harvested area dedicated to pimenta pepper production attained the maximum at X ha in 2012; however, from 2013 to 2022, the harvested area stood at a somewhat lower figure.

Pimenta Pepper Exports

Exports in Latin America and the Caribbean

In 2022, overseas shipments of pimenta pepper increased by X% to X tons, rising for the fourth year in a row after two years of decline. Total exports indicated a measured increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2018 indices. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. The volume of export peaked in 2022 and is likely to see steady growth in the immediate term.

In value terms, pimenta pepper exports surged to $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Peru (X tons) and Mexico (X tons) dominates exports structure, together committing X% of total exports. Colombia (X tons), Honduras (X tons) and Brazil (X tons) held a relatively small share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Honduras (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest pimenta pepper supplying countries in Latin America and the Caribbean were Peru ($X), Mexico ($X) and Honduras ($X), together accounting for X% of total exports.

Honduras, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, increasing by X% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the export price increased by X% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Peru ($X per ton), while Colombia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Peru (X%), while the other leaders experienced mixed trends in the export price figures.

Pimenta Pepper Imports

Imports in Latin America and the Caribbean

After two years of growth, supplies from abroad of pimenta pepper decreased by X% to X tons in 2022. Total imports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then reduced modestly in the following year.

In value terms, pimenta pepper imports reached $X in 2022. Overall, imports, however, continue to indicate a strong increase. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, imports reached the maximum in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

Mexico prevails in imports structure, recording X tons, which was approx. X% of total imports in 2022. It was distantly followed by Brazil (X tons), achieving a X% share of total imports. Guatemala (X tons), Argentina (X tons), Chile (X tons) and Peru (X tons) followed a long way behind the leaders.

Imports into Mexico increased at an average annual rate of X% from 2012 to 2022. At the same time, Peru (X%), Brazil (X%), Argentina (X%), Chile (X%) and Guatemala (X%) displayed positive paces of growth. Moreover, Peru emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. While the share of Mexico (X p.p.) and Brazil (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Chile (X p.p.) and Guatemala (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported pimenta pepper in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was held by Brazil ($X), with a X% share of total imports. It was followed by Guatemala, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Mexico totaled X%. In the other countries, the average annual rates were as follows: Brazil (X% per year) and Guatemala (X% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2022, increasing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2014 an increase of X%. The level of import peaked at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Guatemala ($X per ton), while Chile ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guatemala (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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